UK unemployment falls to six-year low

The UK unemployment rate fell from 6.2% to 6% in the three months to August, hitting a six-year low, according to the Office for National Statistics (ONS).

The figure, below the 6.1% headline rate expected by economists, is the lowest level of unemployment since late 2008. At the same time, however, the ONS said today employment growth stood at its slowest level in a year. Growth stood at 46,000 for the three-month period, the lowest level since March-May 2013. Wage growth showed signs of improvement, but average weekly earnings growth of 0.7%, up from 0.6% in the three months of July, remains below September's CPI inflation rate of 1.2%.